Hoa Phat’s finished steel sales in June almost in line with May

Tuesday, 07 July 2020 17:14:39 (GMT+3)   |   Istanbul

Hoa Phat Group, the leading Vietnamese steel producer, sold 252,000 mt of finished steel products in June, which is almost the same volume as in May (just 6,500 mt lower). At the same time, this result showed a sharp improvement compared to the same month last year, up by 35.6 percent.

Shipments to the southern market amounted to 65,000 mt in June, though they were lower than in May. This region posted the strongest growth in sales volumes compared to last year, at nearly double.

In the first half this year, Hoa Phat sold 1.51 million mt of construction steel to domestic and foreign markets, up by 12.4 percent, which reflects the company’s strong positions in the current complicated market conditions due to Covid -19. Exports of finished steel totaled 203,000 mt, up 67.3 percent year on year.

Out of the total 2.6 million mt of billet steel production by Hoa Phat in the January-June period this year, the manufacturer supplied 831,000 mt of billet to the domestic and exports market. In June, billet sales came to 165,000 mt, mostly for the export market.

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